Can I retire at age 57 with 2,020,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$166,810$165,324$163,874$162,459$161,078$158,149
2 years$82,579$81,041$79,551$78,105$76,704$73,764
3 years$54,506$52,961$51,474$50,043$48,664$45,804
4 years$40,472$38,932$37,460$36,053$34,708$31,950
5 years$32,054$30,523$29,071$27,692$26,384$23,736
6 years$26,444$24,925$23,493$22,146$20,877$18,342
7 years$22,438$20,932$19,523$18,207$16,978$14,558
8 years$19,435$17,942$16,557$15,274$14,085$11,777
9 years$17,101$15,622$14,261$13,010$11,862$9,666
10 years$15,234$13,770$12,433$11,214$10,107$8,021
11 years$13,708$12,259$10,946$9,760$8,692$6,713
12 years$12,437$11,003$9,714$8,561$7,533$5,658
13 years$11,363$9,943$8,679$7,558$6,569$4,796
14 years$10,443$9,038$7,798$6,709$5,758$4,084
15 years$9,646$8,256$7,040$5,983$5,070$3,491
16 years$8,949$7,575$6,383$5,357$4,481$2,994
17 years$8,335$6,976$5,808$4,814$3,973$2,575
18 years$7,790$6,447$5,302$4,338$3,532$2,219
19 years$7,303$5,975$4,854$3,920$3,149$1,916
20 years$6,865$5,552$4,455$3,550$2,812$1,657
21 years$6,470$5,171$4,098$3,222$2,517$1,436
22 years$6,110$4,827$3,777$2,929$2,256$1,245
23 years$5,783$4,515$3,487$2,668$2,025$1,081
24 years$5,483$4,230$3,225$2,433$1,820$939
25 years$5,208$3,970$2,987$2,222$1,638$817
26 years$4,954$3,731$2,770$2,032$1,475$711
27 years$4,720$3,511$2,572$1,860$1,330$619
28 years$4,502$3,309$2,391$1,704$1,200$539
29 years$4,300$3,121$2,225$1,563$1,084$470
30 years$4,112$2,948$2,073$1,434$979$410
31 years$3,936$2,787$1,932$1,317$885$357
32 years$3,772$2,637$1,803$1,210$801$312
33 years$3,618$2,497$1,683$1,113$725$272
34 years$3,473$2,367$1,573$1,024$656$237
35 years$3,337$2,245$1,471$943$594$207
36 years$3,208$2,131$1,376$868$538$181
37 years$3,087$2,023$1,288$800$488$158
38 years$2,973$1,923$1,206$737$442$138
39 years$2,864$1,829$1,130$680$401$121
40 years$2,762$1,740$1,059$627$364$105
41 years$2,664$1,656$993$579$330$92
42 years$2,572$1,577$931$534$300$80
43 years$2,484$1,503$874$493$272$70
44 years$2,400$1,432$820$455$247$61
45 years$2,320$1,366$770$420$224$54
46 years$2,244$1,303$723$388$203$47
47 years$2,172$1,244$680$359$185$41
48 years$2,102$1,187$639$331$168$36
49 years$2,036$1,134$600$306$152$31
50 years$1,972$1,083$564$283$138$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,020,000, adding $2,513 every year, while hoping to spend $23,625 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 46/31/23 Blend
56$2,020,000$2,020,000$2,020,000$2,020,000
57$2,228,632$2,121,572$2,090,262$2,316,337
58$2,430,816$2,200,392$2,135,149$2,457,065
59$2,652,830$2,282,283$2,180,748$2,607,133
60$2,896,674$2,367,369$2,227,058$2,769,477
61$3,164,547$2,455,783$2,274,076$2,945,253
62$3,458,873$2,547,659$2,321,801$3,135,736
63$3,782,325$2,643,141$2,370,228$3,342,324
64$4,137,845$2,742,377$2,419,353$3,566,556
65$4,528,673$2,845,522$2,469,169$3,810,125
66$4,958,382$2,952,737$2,519,671$4,074,891
67$5,430,907$3,064,191$2,570,850$4,362,904
68$5,950,583$3,180,059$2,622,696$4,676,414
69$6,522,185$3,300,526$2,675,200$5,017,901
70$7,150,978$3,425,781$2,728,349$5,390,092
71$7,842,758$3,556,025$2,782,129$5,795,987
72$8,603,915$3,691,466$2,836,526$6,238,890
73$9,441,488$3,832,321$2,891,523$6,722,436
74$10,363,232$3,978,817$2,947,102$7,250,625
75$11,377,694$4,131,192$3,003,242$7,827,862
76$12,494,289$4,289,690$3,059,921$8,458,995
77$13,723,394$4,454,572$3,117,115$9,149,362
78$15,076,439$4,626,105$3,174,798$9,904,840
79$16,566,023$4,804,571$3,232,940$10,731,899
80$18,206,025$4,990,264$3,291,512$11,637,663
81$20,011,742$5,183,488$3,350,479$12,629,978
82$22,000,025$5,384,565$3,409,806$13,717,482
83$24,189,447$5,593,828$3,469,454$14,909,688
84$26,600,470$5,811,625$3,529,380$16,217,075
85$29,255,645$6,038,321$3,589,541$17,651,179
86$32,179,817$6,274,296$3,649,887$19,224,710
87$35,400,369$6,519,946$3,710,369$20,951,663
88$38,947,470$6,775,687$3,770,930$22,847,456
89$42,854,368$7,041,952$3,831,512$24,929,068
90$47,157,698$7,319,193$3,892,052$27,215,204
91$51,897,832$7,607,882$3,952,485$29,726,465
92$57,119,257$7,908,514$4,012,739$32,485,549
93$62,870,993$8,221,603$4,072,738$35,517,453
94$69,207,063$8,547,690$4,132,403$38,849,720
95$76,186,993$8,887,336$4,191,648$42,512,688
96$83,876,381$9,241,131$4,250,383$46,539,779
97$92,347,514$9,609,689$4,308,513$50,967,814
98$101,680,049$9,993,651$4,365,937$55,837,359
99$111,961,764$10,393,691$4,422,546$61,193,102
100$123,289,390$10,810,508$4,478,227$67,084,280